For the past two months Techboard has reported substantial month on month increases in private funding (of 140% and 33%) since the 9 month low in August this year. November showed marginal growth from October with $678m from 38 deals (or $685 from 49 deals if equity crowdfunding raises are included) compared to $665m in September. This is now the third month in a row suggesting a recovery in funding levels when looking at top line dollar amounts. Taking into account all funding types we captured 61 completed funding events totalling $757m and another 12 open and future funding events. Find out more about FUNDED.
Megadeals were up with four megadeals of greater than $50m for November, up from three in October. We however saw a sharp reduction in the overall number of deals which was mainly in pre-seed raises (including accelerators) although much of this drop may be due Techboard not receiving reports on investments by Angel groups for November before the publication of this edition of FUNDED. There was also a decline in large sub $50m deals, with private investments of between $10m and $50m dropping from 17 to 9.
Total private funding captured so far for the December quarter of $1.343b (already puts it as the second largest December quarter on record (behind December Q 2021's $2.381b), and this is before adding in December's data. We will be publishing a more detailed analysis of the December Q and the 2022 calendar year in January.
We have published our latest capture to the Techboard platform which is accessible to our commercial subscribers For access to our full data capture, sorted, catalogued and full searchable, inquire about a data subscription.
So what happened in November 2022?
Who’s been FUNDED?
The trend of big early raises into meat replacement startups continues with Vow, a cultured meat startup, closing a massive $73.5m Series A raise (read more..) this follows on from Nourish, an alternative meat startup, closing a $45.3m Series A raise last month. While on the environment theme Samsara Eco, a plastic recycling startup, closed a large $54m Series A raise (read more...) and ULUU, a Western Australian a plastics replacement startup, closed a sizeable $8m seed raise (read more...)
Another theme we noticed amongst announced raises this month was top up raises, with Morse Micro, an IoT deep tech startup, adding another $30m to its existing $140m Series B raise (read more...) and FrankieOne, an anti-fraud regtech, closes a $23m Series A top-up round. Read more...
Big investments into Fintech continue with Cover Genius, an insurtech startup, closing a US$70m Series D round (read more..) and FrankieOne, an anti-fraud regtech, closing a $23m Series A top-up round (read more...)
The other megadeal for the month not already mentioned was Advanced Navigation Advanced Navigation, a robotics and navtech startup, closes a $108m Series B raise Read more...
The biggest seed raise captured fro the month was Darwinium, an anti-fraud cyber startup, closed a $15.6m Seed round. Read more...
Other significant raises for November included:
Arkon Energy, a data centre startup, which closed a US$28m debt and equity Seed raise. Read more...
Ofload, a logistics tech startup, that closed a $60m Series B debt and equity raise. Read more...
Vald Performance, a sportstech startup, with a $37.5m raise. Read more...
Buildkite, a software development platform, which closed a $32m Series B raise. Read more...
Sapia Sapia, an AI-based recruitment startup formerly known asPredictiveHire, that closed a $17m Series A raise. Read more...
Abyss Solutions, a robotic sensor startup, closes a $15m raise. Read more...
Other funding events for our paid subscribers:
(Our paid subscribers get access to many more funding events on the Techboard Platform)
News from Funders
News on funds continues, with the $1b fund announced by Blackbird early in November and the introduction of the legislation for the National Reconstruction Fund (including the $1b Critical Technologies Fund) into Parliament. Sprint Ventures has also announced that it has raised the first $8m for its $50m Expansion Capital Fund.
Who’s Looking for Funding?
Pacific Biotechnologies Pacific Bio, a seaweed biotech, has opened a $20m round. Read more...
Drive Yello 4YOU Innovation, a delivery startup, has opened a $15m funding round. Read more...
Willow Willow, a proptech software startup, has opened a $10m Series B round. Read more...
Unyoked Unyoked, an off-grid cabin startup, has opened a $7m Series B funding round. Read more...
BizPay BizPay, a B2B BNPL fintech, is seeking a $3.44m raise with a 90% valuation cut. Read more...
CredShare CredShare, the compliance startup, has opened a $2m funding round. Read more...
Oceanfarmr Oceanfarmr, an agtech startup, has opened a $1.45m Bridging Round. Read more...
Ethic Adviser Ethic Adviser, a Saas platform, has opened a $1m Seed raise. Read more...
Superhero Swyftx, a crypto exchange, has opened a bridging round. Read more...
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